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SoftBank Pulls Barclays Off Sprint Bid

SoftBank Corp. has removed Barclays Plc from a role in financing the Japanese company's $20 billion planned takeover of Sprint Nextel Corp., after the British bank began advising a rival bidder, people familiar with the matter said.

Barclays has the lead advising and financing role on efforts by Dish Network Corp., revealed this week, to top SoftBank's bid for Sprint.